TGT MICROFINANCE
TGT Microfinance Ltd was incorporated on 18th February 2022 under the Companies Act, No. 15 of 2013. It was registered under the Ministry of Finance and Planning in Zanzibar on 13th April 2023, with the aim to be the financial solution to SMEs in Unguja and Pemba.
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BENEFITS
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LOAN REQUIREMENTS
INDIVIDUAL LOAN (BUSINESS)
- The borrower must be a resident of Zanzibar.
- Be aged from 18 years and onwards.
- Have a physical/permanent business area.
- Have a formal business with require business license.
- They must be in the business for not less than six months.
- They should be able to save 10% of the loan he will borrow.
- They must have two guarantors.
- The borrower will be required to put as collateral movable/immovable property with value of 120% of the loan asked.
GROUP LOAN (BUSINESS)
- The borrower must be a resident of Zanzibar.
- Be aged from 18 years and onwards.
- Have a physical/permanent business area.
- Have a valid business (formal or informal).
- They must be in the business for not less than six months.
- They should be able to save 20% of the loan he will borrow.
- The group members guarantee each other.
- The borrower will be required to value the movable/immovable property with value of 120% of the loan asked.
INDIVIDUAL LOAN (HORTICULTURE)
- The borrower must be a resident of Zanzibar.
- Be aged from 18 years and onwards.
- Have an area for cultivation of horticulture farming.
- They must be in horticulture farming for not less than six months.
- They should be able to save 10% of the loan he will borrow.
- They must have two guarantors.
- The borrower will be required to value the movable/immovable property with value of 120% of the loan asked.
GROUP LOAN (HORTICULTURE)
- The borrower must be a resident of Zanzibar.
- Be aged from 18 years and onwards.
- Have a valid business (formal or informal).
- They must be in the horticulture farming for not less than six months.
- They should be able to save 20% of the loan he will borrow.
- The group members guarantee each other.
- The borrower will be required to value the movable/immovable property with value of 120% of the loan asked.
INDIVIDUAL LOAN (MACHINE)
- The borrower must be a resident of Zanzibar.
- Be aged from 18 years and onwards.
- Have a physical/permanent business area.
- Have a valid business (formal or informal).
- They must be in the business for not less than six months.
- They must make a 30% upfront payment of the loan amount.
- They must have two guarantors.
GROUP LOAN (MACHINE)
- The borrower must be a resident of Zanzibar.
- Be aged from 18 years and onwards.
- Have a physical/permanent business area.
- Have a valid business (formal or informal).
- They must be in the business for not less than six months.
- They must make a 30% upfront payment of the loan amount.
- The group members guarantee each other.
- The machine itself will act as the collateral.
LOAN REPAYMENT PERIOD
TGT loans take into account the wishes of Entrepreneurs/Borrowers by enabling them to choose the time to repay their loan. TGT offers loans for 3, 6, 9, and 12 months and repayment of the loans is every 30 days.
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Women SMEs
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Tanzania Growth Trust (formerly Tanzania Gatsby Trust – TGT) is a non-profit organization registered and operating in Tanzania Mainland and Zanzibar since 1992.
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